The University of Ulster has revealed that house prices in Northern Ireland have almost halved from peak levels. The report did not take rental properties into account.
Two huge listed but derelict buildings near QUB were sold last week for less than a quarter of their original £1m asking price in 2007.
Broken down by house type, the survey found that the largest decline was in apartments, which fell 23.8 per cent over the year to £101,650.
Only semi-detached bungalows saw an increase, rising 6.7 per cent to £118,649. Terraced and townhouses fell 3.4 per cent to £95,207 and semi-detached houses decreased 2.6 per cent to £134,845. Detached bungalows fell 16.4 per cent to £157,740, while detached houses dropped 15.3 per cent to £212,744.
The owners of off-licenses and bars are probably pretty ecstatic about this too.
[...] “The University of Ulster has revealed that house prices in Northern Ireland have almost halved from peak levels. The report did not take rental properties into account. Two huge listed but derelict buildings near QUB were sold last week for less than a quarter of their original £1m asking price in 2007 …” (more) [...]